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Entropy
DEXOpen Interest
$74.07mKey Metrics
Volume (30d)$1.537b
7d$455.27m
24h$36.02m
All-time$2.67b
Turnover (30d)20.8x
Markets6
Reference Assets6
Asset Groups4
Share of DEX OI1.2%
Est. Fees (30d)$69,185
24h$1,621
All-time$120,142
Est. Annual$841,746
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| io:anthAnthropic | PE Perp | Permissionless | $56.58m | +10.62% | $12.74m | $110.02m | $328.41m | ANTH-USDC | $1,880 | +0.01% | +0.023% | +1.37% | 1h | 15x | $573.41 | $14,779 |
| io:nbisNebius Group N.V. | Stock Perp | Permissionless | $8.78m | +14.11% | $3.3m | $35.82m | $120.21m | NBIS-USDC | $171.20 | +9.62% | +0.177% | +12.74% | 1h | 15x | $148.56 | $5,409 |
| io:sndkSandisk Corporation | Stock Perp | Permissionless | $6.91m | -5.18% | $16.01m | $270.57m | $990.27m | SNDK-USDC | $1,311 | +2.20% | +0.038% | +5.48% | 1h | 15x | $720.66 | $44,562 |
| io:dramRoundhill Memory ETF | ETF Perp | Permissionless | $1.28m | +4.96% | $3.55m | $34.47m | $83.3m | DRAM-USDC | $51.02 | +3.09% | +0.048% | +5.48% | 1h | 25x | $159.69 | $3,749 |
| io:gproGoPro, Inc. | Stock Perp | Permissionless | $273,780 | +10.62% | $28,420 | $199,675 | $1.54m | GPRO-USDC | $1.03 | +1.93% | +0.619% | +114% | 1h | 5x | $1.28 | $69.41 |
| io:ewyiShares MSCI South Korea ETF | ETF Perp | Permissionless | $260,659 | -7.54% | $387,980 | $4.2m | $13.69m | EWY-USDC | $159.62 | +2.36% | +0.026% | +40.46% | 1h | 25x | $17.46 | $616.19 |
About Entropy
Entropy is a HIP-3 builder-deployed perpetual venue on Hyperliquid operating the 'io' dex namespace, launched 2026-08-18 with equity, index and pre-IPO perpetual markets. Deployer 0x320c8988e3d1b5198f335802d7bfd2728a8fcac6; oracle updater 0x94757f8dcb4bf73b850195660e959d1105cfedd5. Markets cash-settle in USDC. Pre-IPO markets quote in market-cap units rather than per-share prices and carry a two-year no-IPO resolution that settles to the 30-day trailing TWAP of the mark.
Entity
Legal entityEntropy
Primary chainHyperliquid L1
Registry
Publicly announced a $14M raise led by Ribbit Capital plus a $40M HYPE stake (issuer claim, not independently verified as of 2026-08-25). Operates the 'io' HIP-3 namespace on Hyperliquid.
Markets
Open Interest by asset group
Asset classes
Fees & revenue
Revenue modelMaker/Taker Fees
ConfidenceIssuer-Disclosed
Margin Settlement AssetsUSDC (Hyperliquid)
Fees Last Verified2026-08-25
HIP-3 builder-deployer on Hyperliquid. Fees are 2x the standard HL perp schedule (3.0 bps maker / 9.0 bps taker), protocol fee split evenly with Hyperliquid; deployerFeeScale 1.0. Both live markets have growth mode enabled (2026-08-19), scaling all fees, rebates and volume contribution by 0.1, so the effective schedule is 0.30 bps maker / 0.90 bps taker. Funding is peer-to-peer with no exchange cut, so there is no funding skim.